(Scroll down to get your Free COVID-19 Priority Planner)
On the Corona Virus | COVID-19 Roadmap to Recovery there will be clear winners (and unfortunately some casualties). I’m guessing, like me, you’d prefer to be a winner.
I’ll show you how…
Although I work primarily with Service businesses and therefore my tools and techniques focus on the specific needs of service businesses, this approach has been applied to many industries with incredible success.
The pandemic driven recession is a bit different to other recent recessions primarily due to the extended period of uncertainty that we will likely experience. We have seen 2nd and 3rd waves of COVID-19 around the world which has resulted in further restrictions, thereby increasing the depth of recession.
It is also likely that governments will not continue to fund stimulus at the same rate as more waves of the pandemic occur purely due to the enormous cost and future political fallout (they still want to be in power on the Road to Recovery).
As we’ve seen from previous flu like pandemics the virus will mutate, this brings with it further challenges and opportunities.
COVID-19 the road to recovery will be bumpy and at times may feel more like a rollercoaster, but you are not alone, hang in there and focus on the few key thing you need to get through this.
Just like any other recession there will be massive risks but also massive opportunities. Be ready to grab on to any opportunities that come knocking! – The Most successful businesses will not just reopen but reinvent…
- The Road To Recovery video
- The Road to Recovery planner link
- I’ve also added a link to a vlog series that shows you how you can develop your strategy for 2021.
- Check out our Content-Hub for loads of free information to make your business great
What to focus on:
With so much uncertainty and change it is important to be stay focused on what is really important and remove the noise. There are 7 key areas that we have identified are critical to success in the current recession. Forget the rest!
- The six key components you need to ensure maximum success as we navigate through the next recession
- What keeps you up at night – critical to give you the confidence you need to move forward
- Cash flow matters – critical to success in uncertain times
- Innovation – critical to get and stay on top
- Communication – in our new world this may have the biggest impact on your business
- Opportunities – discovering and assessing ability to exploit opportunities is the key
- Well Being – surprisingly important in current times
Watch the 3 min video below to learn more.
After watching the video keep reading to learn how to recession proof your business.
How can you ensure your business wins?
I’m about to give you all the tools you need to beat the competition.
Best of all because I believe in the KISS (keep it simple stupid) method anyone can do it for their business.
So how bad is it?
SCOMO (the Australian Prime Minister) calls it “The recession we didn’t have to have”.
I don’t agree, as I posted back on 11 March:
As you can see I thought there were already cracks in the economy and had a high probability of a recession.
IT IS BAD!
Take a look the major headline and the statistics that go with it.
Worst recession in 100 years.
- I don’t know about 100 years, but it is certainly much much worse globally than the 2009 Global Financial Crisis (GFC).
- 3000% greater reduction in GDP (global production) is expected.
- See the following from the IMF website
- Unemployment is a major indicator of economic health. Although the numbers are bad, it is not uniform
- Globally it has been estimated that we have over 350,000,000 job losses from COVID-19 whereas the number was around 25,000,000 during the GFC. (I heard this statistic from a call with global business leaders but have yet been able to verify it).
- In Australia during the 1990’s recession unemployment peaked at 11%, now we are sitting right around 7.1%. Ahh so maybe we are ok…? Ahhh well… There are some catches:
- 6.6 million Australians (estimated) are on Job keepers, who might otherwise be unemployed. They are counted as employed.
- What will the end of reduction of Job Keeper look like?
- Australian Bureau of Statistics tells us that “unemployment rates have become successively higher with each economic downturn”. (Also jobs don’t fully recover…)
- This indicates that based on history the worst is yet to come…
- Under-employment sits at 13.1% that means these people are employed but with reduce wages. Unfortunately this stastictic is relatively new so we don’t know what it looked like back in the 90’s
What do all these numbers and graphs really mean?
Essentially what all this tells us is that the current state is very bad. The worst that anybody currently working in a job or has a business has ever seen.
It is significantly (10 times) worse than the GFC and likely worse than the 80’s/90’s recessions.
Sorry to be the bearer of bad news!
But there is hope.
There is history and history tells us that we can get through it and there are some specific things you can do to protect your business to ensure your come out a winner.
Watch the Roadmap to Recovery 3 min video to learn how.
This simple priority planner brings all the key strategic, financial, customer, staff, and well-being focal points into a simple 2 page plan.
It should be updated and revisited regularly. You can use for yourself personally, your whole business or for each key business department/function.
It’s simple but powerful!
Get your free copy of the Corona Virus | Roadmap to Recovery Priority Planner, make sure you come out a winner:
Download the planner to use in your business today. It’s free, no obligation no sign-up. It’s a simple 2 page plan.
It is your plan, feel free to adjust it, change it to specific things in your business and life, make it your own. Use this plan with your managers and staff, let them adjust it for their needs.
The key thing with any plan is motivation, when someone is engaged in the planning process and writes their own plan they are more likely to hold themselves accountable and ultimately achieve against it.
This plan is for you, make the most of it!
Want some help ensuring your business is on the winning side?
I am opening up my calendar to support businesses. If you want help to understand and/or apply these tools to your business. Please book a 45 min phone meeting with me here.
Recession-proof Your Business
In good times and in bad there are some things you can do in your business to ensure your prosper no matter what the conditions are.
- Create and Live your Vision – this is critical. The vision sets the scene for decisions made in your business. These serve as the “house rules” that help people choose right over wrong.
- Learn how to create your vision & strategy here.
- Design deliberate Business Processes – these are the engine room of your business. They must fit your Vision and easier they are to follow the better they are. Business processes are happening with or without you… Make it with you.
- We have some great articles about setting up your business processes here.
- Measure – you only “manage what you measure”. There are some rules around measuring your business. My absolute No.1 rule is make then Customer Focused.
- Actively Manage your business – this is not for your to do it is for you to manage. You didn’t build your business to work 100 hrs a week. You don’t need to if you have the right people management framework in place.
- Learn more about Active Management here.
Create your Roadmap to recovery today!
More Corona Virus | COVID-19 Free tools:
- How to Protect your business from a COVID-19 Coronavirus Recession
- Business Health Check – Recession Proof your Business
FAQ (Frequently Asked Questions):
Will this work for my business?
- Yes. The concepts addressed in this article are tried and true business and management techniques. They have been around for decades – and with good reason – they work.
Do I need special IT systems or knowledge to use your Roadmap to recovery planner?
- We use Excel and have built this planner in Excel however you can use a PDF versions and print a hard copy, if you are a google user you can usually open Excel files and convert to google sheets. If you have any issues just reach out to me. (If using a hard copy you may need calculator…)
- This is a simple planner and I don’t think you need any specialised knowledge, but you may need to apply some thought to some areas if you have not considered them before.
If I have questions about this article how can I get them answered?
- I love questions particularly difficult ones. Please feel free to reach out to me using the contact us form or connect with me on LinkedIn and we can chat.
What happens if I download the planner but need some help?
- Great if yo need help that means you are taking action. I love helping action takers. Reach out me via our contact page, or simply reach out to me via LinkedIn for a chat. I’m also offering a free call to anyone that gets “stuck” book a call with me here (they are 45 min slots but we can finish early).
Why are you giving away great content for free?
- I am passionate about helping businesses achieve their goals. I strongly believe that in most cases great advice comes at great expense, however, I am working hard to bring costs down by leveraging technology and new approaches. Despite this I recognise not everyone is ready or in the financial position to use my paid services. However, if I help you now hopefully you will see the value and join me when you are ready.